UPDATE 1-Diamond Offshore scraps rigs as demand weakens

May 4, 2015 11:07 AM

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May 4 (Reuters) - Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, said it was scrapping three rigs in the face of weak demand due to a steep fall in global crude prices.

The company said on Monday it recorded an impairment charge of $319 million for eight rigs, including the rigs being retired, in its first-quarter results.